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WHAT IS IT LIKE LIVING IN A 70 SQUARE METER SHOEBOX

Written by Julian Sng

Up from the current 70 square meters, future apartments in Singapore will be built to a minimum of 85 square meters next year. The regulation, led by the Urban Redevelopment Authority (URA), follows concerns over the“excessive development of shoebox units” and fostering greater housing options for larger families in the land-scarce nation. Besides sparkinga poll over whether this regulation should be extended for private homes, the URA announcement has led to drop in share value of several real estate firms – namely, City Developments, UOL Group and Oxley Holdings. According to Christine Li at Cushman and Wakefield, the move is significant given how the 85 square meter regulationreduces some 18% of such units as developers attempt to produce more slices and thus maximise their profit per land area.